Specialized Track · Career

Economics & Finance

Understand and discuss basic economic and financial concepts.

The vocabulary you need for everyday banking, personal finance, and basic economic concepts — the foundation for any career touching money, markets, or financial decisions.

Why this matters This lesson connects directly to your progress: it covers basic banking vocabulary; everyday economics vocabulary; basic finance situations. Mastering this content lets you move forward confidently, and reinforces patterns you'll use again later. Take time to review every example before moving to the assessment — repetition is what actually locks knowledge in long-term.

01

What will you be able to do?

The goals of this lesson.

02

Before you start

You've completed general English. This is the first lesson of the Economics and Finance specialization — the core vocabulary for talking about money, prices, and markets.

03

Basic banking vocabulary

Essential terms for everyday interactions with a bank.

Examples

I need to open a savings account.
Banking
What's the current interest rate?
Banking
I'd like to check my account balance.
Banking
Can I get a loan for a new car?
Loans
She invests part of her salary every month.
Investing basics
We need to pay off our credit card debt.
Debt
The bank charges a monthly fee.
Banking fees
I want to set up a direct deposit.
Payroll

04

Everyday economics vocabulary

Terms you'll hear in the news and everyday conversations about money.

Examples

Inflation has made everything more expensive.
Inflation
The cost of living keeps rising.
Economics basics
Prices go up when demand is higher than supply.
Supply and demand
The company's profits increased this year.
Profit
We need to stick to our monthly budget.
Budgeting
She's saving up for retirement.
Retirement savings
The exchange rate changed overnight.
Currency

05

Basic finance situations

Common scenarios: loans, mortgages, investing, and insurance basics.

Examples

I'd like to apply for a mortgage.
Mortgages
What are the fees for international transfers?
Transfers
Can you explain how compound interest works?
Interest
I want to start investing in stocks.
Stock market
The stock market went down today.
Stock market
We're comparing insurance policies.
Insurance
How much should I save each month?
Savings planning

06

Reading

Read the text and answer the questions. You can try as many times as you want.

Carlos went to the bank to open a savings account. The advisor explained the current interest rate and asked if he wanted to set up a direct deposit from his salary. "I'm also thinking about applying for a mortgage next year," Carlos said.

"That's a good plan," the advisor replied. "But first, let's make sure you're saving enough each month. With inflation rising, it's smart to review your budget regularly." Carlos left the bank with a clearer plan for his savings and future investments.

1. Why did Carlos go to the bank?

2. What did the advisor ask about?

3. What is Carlos thinking about applying for?

4. What does the advisor mention about inflation?

5. How did Carlos feel when he left the bank?

💪 Solid foundation in financial English! Review this lesson, or continue to the Intermediate level.

07

Reading: Opening a Savings Account

A second reading, a bit longer. Read it and answer the questions below.

Marta wanted to save up for a trip, so she went to the bank to open a savings account. The advisor explained the current interest rate and asked how much she planned to deposit each month.

“I want to set a budget so I don't go into debt,” Marta said. The advisor helped her choose an account where she could keep track of her balance easily and withdraw money only in emergencies. By the end of the year, Marta had saved enough to pay for her whole trip without using credit.

1. Why did Marta go to the bank?

2. What did the advisor explain first?

3. What did Marta want to avoid?

4. What could Marta do easily with her new account?

5. What was Marta able to do by the end of the year?

08

Match the Terms

Tap a term on the left, then tap its matching definition on the right. Ungraded — repeat as many times as you like.

Term

Definition

09

Fill in the Blanks

Usa las pistas para completar cada palabra en inglés. Sin calificar — repite las veces que quieras.

10

Key Points

The essentials of this lesson, summarized.

11

Vocabulary in This Lesson

Key terms to remember.

to need
/niːd/

to require something

necesitar
"I need to open a savings account."
current
/ˈkʌr.ənt/

existing or happening right now

actual
"What's the current interest rate?"
like
/laɪk/

used to politely express a wish

gustaría
"I'd like to check my account balance."
loan
/loʊn/

money borrowed that must be paid back

préstamo
"Can I get a loan for a new car?"
invests
/ɪnˈvests/

puts money into something to earn a return

invierte
"She invests part of her salary every month."
credit
/ˈkred.ɪt/

the ability to borrow money or buy on trust

crédito
"We need to pay off our credit card debt."
interest rate
/ˈɪn.trəst reɪt/

the percentage a bank pays or charges on money

tasa de interés
"The bank raised the interest rate on savings accounts."
budget
/ˈbʌdʒ.ɪt/

a plan for how money will be spent

presupuesto
"We need to stick to our monthly budget."
deposit
/dɪˈpɒz.ɪt/

money added into a bank account

depósito
"She made a deposit at the bank this morning."
to withdraw
/wɪðˈdrɔː/

to take money out of a bank account

retirar
"I need to withdraw some cash for the trip."
balance
/ˈbæl.əns/

the amount of money in an account

saldo
"Can you check my account balance, please?"
debt
/det/

money that is owed to someone

deuda
"He's working to pay off his credit card debt."

12

Common Phrases & Expressions

Everyday expressions people use when talking about money and banking.

live within your means
"It's important to live within your means and avoid debt."
make ends meet
"With prices rising, it's harder to make ends meet."
save up for
"We're saving up for a down payment on a house."
go into debt
"Try not to go into debt just to buy things you don't need."
keep track of
"I keep track of my spending with an app."
pay off
"She finally paid off her student loan last year."
cut back on
"We had to cut back on eating out this month."
set a budget
"Let's set a budget before we go shopping."

13

Build the Sentence

Tap the words in the correct order to form the sentence. Ungraded — repeat as many times as you like.

14

Choose the Correct Verb

Tap the correct verb form to complete each sentence. The other options are conjugations from other tenses — on purpose, so you learn to tell them apart.

What are fees for international transfers

She's up for retirement

I to set up a direct deposit

I to open a savings account

Can you how compound interest works

16

Assessment

You need at least 80% to unlock the next lesson. You can retake it as many times as you want — your best score is saved.

1. What does this mean: "Prices go up when demand is higher than supply."?

2. What does this mean: "Inflation has made everything more expensive."?

3. Select the correct match for: "The stock market went down today."

4. "We're comparing insurance policies." — which one is correct?

5. What does this mean: "I'd like to apply for a mortgage."?

6. Choose the equivalent of: "The exchange rate changed overnight."

7. "The bank charges a monthly fee." — which one is correct?

8. Which option matches: "I'd like to check my account balance."?

9. Which option matches: "The company's profits increased this year."?

10. "How much should I save each month?" — which one is correct?

Review — Lesson 64 What matches: "To make a long story short"?

Review — Lesson 64 What matches: "Have a chip on your shoulder"?

17

Summary and next step

You now know essential economic vocabulary. Next lesson: markets, risk, and macroeconomics.

🗣️ Practice out loud

Use the conversational tutor to practice this topic.

Open the tutor

18

Games

Practice this lesson's vocabulary with a word search and flashcards. Ungraded — play as many times as you like.

Word Search

Tap the first and last letter of a hidden word to find it. Los términos de varias palabras van sin espacios en el tablero (ej. "give up" aparece como GIVEUP).

Flashcards

Elige la respuesta correcta. Si aciertas, la tarjeta queda lista por hoy; si fallas, vuelve a aparecer pronto para reforzarla. Tu progreso se guarda en este dispositivo.

Term